2023 - JAMB Accounting Past Questions and Answers - page 4

The accounting system in which only one aspect of transaction is recorded is

Another name for control accounts is

Which of the following is used in the public sector to monitor or control government expenditure?

A part of public company\'s profit belonging to the shareholders is

When the goods are sold on credit to a buyer, the account receivable account will be

Capital for a profit making organization is generated through

Dairo and Segun are in partnership sharing profits and losses in the ratio 2:3 respectively. The information below relates to their business for the year ended 31st December, 2018.
 

- Interest on drawings 10%

- Interest on capital 5%

- Profit for the year ₦36,000

- Salary: Segun ₦10,000

The interest on Dairo\'s drawings is

The part of capital issued only at the time of liquidation of the company is

The following are importance of branch account except

Profit expressed in relation to cost of goods sold is